Content area
Full Text
GULF COOPERATION COUNCIL
* Deloitte and PricewaterhouseCoopers, Abraaj Group Ltd.'s court-appointed provisional liquidators, are seeking more bids for the embattled Dubai-based firm's fund-management unit, insiders told Bloomberg News. Interested buyers reportedly have until Aug. 24 to table their bids and a decision on buyers is expected by Sept. 7.
* The Saudi Arabian Monetary Authority lifted the ban on Chedid Insurance Brokers after the company addressed the issues raised by the regulator, Argaam wrote.
* Saudi Arabia's Capital Market Authority has published draft instructions for foreign strategic investors' ownership in listed companies for a 30-day public consultation.
* Ziyad al-Ashaikh, Deutsche Bank AG's Saudi Arabia head, is joining SoftBank Group Corp. to head its new office in Riyadh, insiders told The Wall Street Journal.
* Qatar Islamic Insurance Co. QPSC obtained approval from the Qatar Central Bank to change its name to The Group Islamic Insurance Co. and establish a wholly owned real estate company.
REST OF MIDDLE EAST AND NORTH AFRICA
* The Bank of Israel said it will not allow Bank Leumi le-Israel BM to hold a 20% stake in the Warburg Pincus unit that is acquiring Leumi Card Ltd., saying such a purchase would be inconsistent with the spirit of the country's Increased Competition Law, Reuters reported. The central bank is yet to decide whether to approve the sale of Leumi Card. Bank Leumi and Israeli real estate company Azrieli Group recently...